Centuri Reports Strong Q3 2026 Growth Driven by Acquisitions and Increased Bid Work
Centuri (CTRI) reported significant third-quarter growth for 2026, with revenue reaching $1.2 billion, a 40% increase year-over-year. This surge was primarily driven by new Master Service Agreements (MSAs), increased bid work, and the strategic integration of recent acquisitions including JJ White and Connect. The company's adjusted net income more than doubled to $42.5 million compared to the previous year. The company is seeing robust demand across its segments, particularly in U.S. Gas and Union Electric revenue. While Centuri has expanded its backlog to $6.2 billion and maintains a massive $19 billion opportunity pipeline, management lowered full-year free cash flow guidance to $25 million–$50 million due to higher working capital requirements stemming from rapid scaling. Despite this, the company provided an optimistic 2027 revenue outlook exceeding $4.4 billion.
Tickers: $CTRI
Topics: acquisitions adjusted eps gross profit margin revenue growth